Vacant Lot Auctioned for $13.6 Million

The priciest vacant lot in San Francisco, a weedy acre with a Pacific Heights address and a view of the Golden Gate, had a new owner Tuesday.

The winner of a high-stakes real estate auction was developer Mitch Menaged, who paid $13.65 million for the 1.1-acre former school site sitting within a block of the homes of the most famous names in San Francisco, including Getty.

“It’s probably the single remaining best site in one of the best cities in the world,” Menaged said. “The views, the location and the neighborhood are just spectacular.”

Menaged owns Historic San Francisco Homes. He said he has no buyers or specific development project, although he is considering building mansions on one side of the lot and condominiums on the other.

Until a decade ago, the L-shaped property was the site of Grant Elementary School, which U.S. Sen. Dianne Feinstein (D-Calif.) once attended.